What is the meant by conspicuous consumption
Answers
Answer:
it means
Explanation:
expenditure on or consumption of luxuries on a lavish scale in an attempt to enhance one's prestige.
mark me as brainlist
Answer:
Conspicuous Consumption
Explanation:
Conspicuous consumption is a term introduced by the Norwegian-American economist and sociologist Thorstein Veblen in his book “The Theory of the Leisure Class” published in 1899.
The term refers to consumers who buy expensive items to display wealth and income rather than to cover the real needs of the consumer.
A flashy consumer uses such behaviour to maintain or gain higher social status. Most classes have a flashy consumer affect and influence over other classes, seeking to emulate the behaviour.
Consumption is used as a way to gain and signal status. Through “conspicuous consumption” often came “conspicuous waste,” which Veblen detested. Much of modern advertising premised on the “gotta have” society is built upon a Veblenian notion of consumption and rivalry.